Seriously??? They did a 1 for 50 reverse split Sept. 8th 2014, so pre-split $2.88 a share. Since then they have done another reverse split July 14th 2015, run through most of their money, laid off their employees, stopped paying their rent, the LOI their last hope fell through and they should be getting delisted soon. It should be trading closer to .05 or so.
The Company has been provided with a 45 calendar day period (by October 9, 2015) in which to submit a plan to regain compliance. If the plan is accepted, the Company can be granted an extension of up to 180 calendar days to evidence compliance.
Any one think there will be news by Friday??
Anticipation that there will be some sort of news by Friday, October 9th the date for delisting unless they have a plan that is accepted, which will extend the listing I believe another 6 months. Other than that I've got
You will still be holding this when it hits $1.50 (you're almost there) and $1.00 waiting on that news...
High closing activity attempts to create an artificial price for a security by boosting its price substantially at market close, since closing prices are widely reported in the media and are closely watched by investors. Since most portfolios and securities are valued on the basis of their closing prices, manipulators use this tactic to achieve a higher market value for their holdings rather than their intrinsic worth.
Doesn't matter if it was 5000 shares or 10 shares the object is to boost the price to an artificial high.
They have done all the testing it's taken 3 years but they finally have worked the kinks out. How many retro fits have they sold at $110,000 per truck? If you answered 0 you are correct.
ePower currently buys components from distributors in single unit volumes. The current component costs for its drivetrain are approximately $93,000 and ePower is targeting a price of $112,000 for a conversion kit. But once they build enough the prices will come down. Right now they are looking for investors.
ePower is seeking $2.5 million in equity to complete system optimization and build a demonstration fleet
The offering is priced at a post-money valuation of $11.5 million and investors will own 21.7% of the
I'm trying to find something where they have signed an agreement that has resulted in revenue an been successful.
Revenue has decreased over the past 3 years and losses have increased not a winning combination. But maybe this time is different! Just my opinion...
Under the detailed LOI signed on 21 June 2012, Axion would appoint Rosewater Energy Group as its exclusive distribution agent for a period of three years, subject to defined sales minimums and other conditions. Specific details of the strategic relationship with Rosewater Energy will be disclosed after a definitive agreement is signed in the near future. Meanwhile, product marketing will begin immediately.
And what about that huge solar deal in Pennsylvania, supposed to start by the end of 2014??
Axion Supplying Energy-Storage System to Pennsylvania Solar Farm
Coatesville solar project put on hold, that was announced April of this year.
Yes, I can see that there are probably many more companies out there just chomping at the bit to spend millions of dollars on something that
Axion in 10 plus years has not been able to make money on.
Net sales of PbC batteries and PbC energy storage components and devices and from the sales of products related to advanced battery applications for our PbC technology are not a significant component of historically reported Net sales through 2015.
In the third quarter of 2014, we determined that the most efficient use of our resources is to operate as a technology-based enterprise to promote and market our proprietary PbC technology and to streamline manufacturing efforts to focus on our total lead-activated carbon negative electrode.
In the fourth quarter of 2014, we took steps to evaluate and implement the staged phase out of the manufacturing of batteries at our leased Clover Lane facility and the redirection of our efforts toward carbon electrode manufacturing at our leased Green Ridge Road facility. We also continue developing third party PbC battery suppliers, and selling energy storage systems. We believe that this streamlined effort with regard to our carbon negative electrode manufacturing will provide us with the best opportunity to commercialize our technology.
While we are working toward successful commercialization of our PbC products, we cannot provide assurances that the PbC products will be successful in their present design or that further research and development will not be needed. The successful completion of present and future characterization and demonstration projects is critical to the development and acceptance of our PbC technology.
They also stated that they would only have enough $$ to last through their third quarter of 2015.
If you are long this stock you had better be praying this deal goes through.
Sentiment: Strong Sell
Axion’s Board of Directors has agreed to extend the exclusivity
provision for an additional 30 days, ending on September 13, 2015.
Wrong, they have already missed the date, it was Sept.13th 2015.
August 17, 2015
Dear Axion Shareholder:
As earlier communicated, your company announced a binding letter of intent to
negotiate a technology license, loan and preferred stock investment with LCB
International, Inc. Axion further agreed to a 60-day exclusivity provision as part of
the binding LOI executed on June 13, 2014. The negotiations, since June 13, 2015 have
proceeded with a high priority for both parties, and substantial progress has been made.
Nevertheless, certain actions necessary to successfully complete the transaction will
require additional time, and Axion’s Board of Directors has agreed to extend the exclusivity
provision for an additional 30 days, ending on September 13, 2015. Battery testing at
independent labs in China and additional technical review of our Gen 4 PbC carbon electrode
manufacturing feasibility are examples of a few items that require additional time to complete
before a transaction can be consummated. We expect that the extension period will provide
sufficient time to complete these additional tasks and to reach agreement on various business matters.
"LCB is is a privately owned entity incorporated in the British Virgin Islands with its principal business office in Shanghai, China". Has anyone been able to locate any information on this company in the Virgin Islands where it was incorporated, or in China? I haven't.
I do stand corrected tooby.doobydoo I did find the info on Dr. Wangjie Gesang about which college he attended, he previous places of employment. I don't care that or how much Ophoenix boasts about him. What I am looking for is relevant information on him and his company LCB International. I am not interested in what you think " I think they are an off-shoot of a Chinese company called "LCB Technologies" an electronics company based out of Shenzhen, China." I want to read with my own eyes that they are an off-shoot of this company.
Give me that an I will shut up.
Had they not done the split, share price would be .06885. then or now at the share price of $2.41 not a
company that seems to have a bright future. As volume decreases the share price will fall. Anticipation of finalization of the LOI along with the reduced float of only 3.5 million caused the run up. Seen it too many times...
Not to mention there is no information to be found on LCB INTERNATIONAL, INC. or the managing director W.J. Gesang.
Just curious, does it seem strange to you that the chairman Wangjie Gesang seems to have 2 companies that he has co-founded and is managing director of, yet there is no information that I can find on either one of them. WJG International Inc., has been around for 5 years. No info on what this company does or where it is located. LCB International Inc. has been in existence for a year and nine months, once again no information on this company. The address given for LCB International in the LOI pulls up a country club in China. This guy has 0 connections on Linkedin. Looks more like he is into venture capital and private equity transactions. It all makes me very skeptical. I guess we shall see...
I say Coffee Junkie did his best trying to get useful information. I'll also say that his video did not give me a warm fuzzy feeling. The fact that he told coffee junkie that the LOI is still in the works, I do not believe is legal because according to the terms they have missed the date to finalize the agreement. They are in breach of contract I personally do not believe this agreement is going to happen. I'm sure there are others that believe the same. If the deal is still in the works they should have done a press release to inform all investors, it is illegal to parcel out information to a select few.
Any one have a clue why? They missed the extension date to finalize the LOI, that was Sunday the 13th and notice to be given 4 days after which would have been Thursday. From what I've read about legal contracts they are now in breach of the contract and as long as terms have not been followed. The timelineline is specific in this contract.
Honestly I believe you are grasping at straws. This is like a finely choreographed dance, on April 16, 2015, due to the recent volume of exercise of its Series B Warrants, the number of issued common shares was within 5% of the total authorized shares of common stock of 100 million. The Company instructed its transfer agent, effective as of the opening of business, April 17, 2015, to not accept any further exercise notices of Series B warrants until Axion is able to discern its course of action on a prospective basis with respect to making more shares of authorized common stock available for issuance.
Then in May they amend the Exercise Price of the series B warrants to .10, and the initial Exercise Price of the Series A warrants to be reduced to $0.50 per share dependent on whether the company has effected the reverse split of its Common Stock (as described in its Definitive Schedule 14A, filed with the SEC on May 12, 2015) on or prior to July 17, 2015.
Then miraculously in June they sign this LOI for millions over the next two years. Not bad considering that Axion's revenue has gone steadily down over the past few years and over the past year only generated $782 thousand while incurring about 10 million in losses.
Two weeks later they get a notice of delisting.
The LOI was to be finalized and signed in 60 days but low and behold they need more time to test batteries so it was extended another 30 plus an additional 4 days to file with SEC and notify shareholders, that's tomorrow. I seriously doubt that there will be news that the deal is done tomorrow. If they release anything, it will be that more time is needed.
But I could be wrong, just my opinion after doing some digging.